Shalom Life | October 01, 2014

Peter Thiel Jumps the Facebook Ship

Early Facebook investor and board memeber sells nearly all his stock

By: David Shear

Published: August 21st, 2012 in Business » World

Peter Thiel Jumps the Facebook Ship

Facebook (FB on NASDAQ) board member and early investor, Peter Thiel, has sold almost all his Facebook shares last week, according to documents filed with the SEC.

Thiel, co-founder of PayPal and one of the most successful venture capitalists of all time, has sold his 22.3 million shares of Facebook on Aug. 16 and Aug. 17 for an average of $20 a share, raising around $446 million from the sale. Thiel purchased his shares for $500,000 in 2004.

Last Thursday Facebook lifted their lock-up period for many early investors, meaning that those investors can now sale their shares. Having watched the value of their shares lose nearly 50% since the company went public, it is no surprise that many investors took advantage of this opportunity.

Thursday lock-up expiration is the first of five insider-sale restrictions scheduled during the company’s first year as a public company. By November, another 1.44 billion shares will freed up.

Is Thiel’s exit a warning for investors?

As of writing, Facebook is still at $19.51 a share, down 2.5% today.

Shatner, Nimoy to 'Star' in New Volkswagen Ads Shatner, Nimoy to 'Star' in New Volkswagen Ads TrendingIsraeli Illusionist Knows Why the iPhone 6 is Bending [VIDEO] Israeli Illusionist Knows Why the iPhone 6 is Bending [VIDEO] TrendingTIME Names Israeli Entrepreneur As "Next Generation Leader" TIME Names Israeli Entrepreneur As "Next Generation Leader" Trending
 

The Top 10 Life-Saving Israeli Tech Companies

September 30, 2014 | By Maya Yarowsky, NoCamels
The Top 10 Life-Saving Israeli Tech Companies

Freezing tumors with ice, creating nano-sized virus killers and helping people out of the rubble with a robotic snake is all in a day's work for these Israeli companies whose technology is helping to save many a life

Read More

The Love Jewce: Jewvangelist

September 30, 2014 | By Andria Kaplan
The Love Jewce: Jewvangelist

A look at the popular web-series that tells the story of a female rabbi in LA trying to keep her synagogue alive

Read More

Gwyneth Paltrow Gets Animated in Blo Ad

September 30, 2014 | By Ashley Baylen
Gwyneth Paltrow Gets Animated in Blo Ad

The GOOP blogger has teamed up with celebrity hairstylist David Babaii

Read More

Netflix and Weinstein Co. Team Up For ‘Crouching Tiger, Hidden Dragon’ Sequel

September 30, 2014 | By Ashley Baylen
Netflix and Weinstein Co. Team Up For ‘Crouching Tiger, Hidden Dragon’ Sequel

This will be the streaming services first foray into feature film production.

Read More

Shatner, Nimoy to 'Star' in New Volkswagen Ads

September 30, 2014 | By Daniel Koren
Shatner, Nimoy to 'Star' in New Volkswagen Ads

The 'Star Trek' actors have confirmed their involvement in the company's new campaign for the e-Golf

Read More

Neo-Nazi Group Distributes anti-Semitic Flyers, Wants "Jews Out of Australia"

September 30, 2014 | By Daniel Koren
Neo-Nazi Group Distributes anti-Semitic Flyers, Wants "Jews Out of Australia"

An Australian neo-Nazi group is distributing flyers in Sydney, again, that refer to Jews as the "world's foremost problem"

Read More

Jewish Anti-Israel Group Stage Blood Bucket Challenges Around Israel [VIDEO]

September 30, 2014 | By Daniel Koren
Jewish Anti-Israel Group Stage Blood Bucket Challenges Around Israel [VIDEO]

The group "Jews Against Genocide" visited sites around Israel, including Yad Vashem, to protest Israeli policies

Read More

Netanyahu (Accurately) Compares Iran to Derek Jeter During UN Address

September 30, 2014 | By Daniel Koren
Netanyahu (Accurately) Compares Iran to Derek Jeter During UN Address

"To say that Iran doesn't practice terrorism is like saying Derek Jeter never played shortstop for the New York Yankees"

Read More

More Headlines